General Electric (GE) will split into three publicly traded companies, each of which will focus separately on aerospace, healthcare and energy. That leaves the American company tuesday know. The industrial group expects to need about 2 billion dollars (1.72 billion euros) for the entire operation. GE’s board of directors (turnover $73 billion) has yet to approve the split.
GE’s healthcare business will be divested in early 2023. A year later, the energy branch of the conglomerate will become independent, including the sustainable energy, electricity and digital activities. What remains after that continues as an airline company. With the split, GE hopes to create three companies that are financially stronger and can earn more per sector.
In 2015, GE already announced a radical transformation of the company and pledged to divest billions in assets to better focus on the company’s industrial core: energy, aerospace, renewable energy and healthcare. The Boston company, founded in 1892, also announced Tuesday that it expects to cut its debt by more than $75 billion by the end of the year.
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